Higher reserve releases drive 6% increase in Admiral motor profits
Admiral CEO Henry Engelhardt has branded the opening six months of 2015 “a good start to a challenging year” after the insurer delivered a 1% increase in group pre-tax profit to £186.1m (H1 2014: £184.9m).
The marginal uptick was largely driven by a 6% rise in profits within the firm's UK car insurance business, with the division delivering a profit of £219.2m for the first half (H1 2014: £207.7m).
Howe
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